ExteNet Systems acquired by Digital Bridge | Digital Bridge
Summary
Along with Stonepeak Infrastructure Partners, Digital Bridge is set to acquire ExteNet’s current investors, including SBA Communications. “They’re making a lot of capital available,” said ExteNet co-founder Ross Manire, who will continue as president and CEO. Warren Roll of Digital Bridge, and Trent Vichie and Brian McMullen of Stonepeak will also join ExteNet’s board of directors. As a reminder, monthly leases are $700-$800 per tenant with 10- to 15-year leases and carriers pay for 25% to 40% of the network construction costs.” SBA Communications exits SBA Communications, the tower company that has owned almost 20% of ExteNet since 2010, is selling its stake, making it the only major tower operator without a significant presence in DAS and small cells. “We’ve had venture investors in the deal since August of 2004 so it was really time to find a liquidity event for them,” Manire said.